Dhaka, May 27 -- Bangladesh Bank Governor Ahsan H Mansur has announced that six financially weakened banks will be merged by July this year, with the government taking temporary ownership to stabilize the country's banking sector.

In an interview with Channel 24 aired on Monday, the governor stated that the move is part of a broader restructuring initiative following widespread irregularities and loan fraud that have plagued these institutions.

"We hope to bring the six banks under government ownership by July and provide the necessary capital," Mansur said. "The central bank has already extended liquidity support to these banks."

The six banks identified for the merger are First Security Islami Bank, Social Islami Bank, Union Bank, Gl...